Harvey to cost Texas $58 billion in losses: report

Economic losses in Texas from Hurricane Harvey, which is still pounding the water-logged US state with rain, will be some $58 billion (49 billion euros), according to a report released Thursday by disaster analysts in Germany.

If that estimate holds, it would make Harvey the world’s 9th most expensive natural disaster since 1900, according to the Center for Disaster Management and Risk Reduction Technology (CEDIM) in Karlsruhe, Germany.

$3 BILLION

“The damage is extensive at around $58 billion, and is over 90 percent due to flooding,” said James Daniell, senior risk engineer at CEDIM, and head of its Forensic Disaster Analysis Group.

Other calculations of total economic loss have been considerably lower.